We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

self employed mortgage

Options
me again!
mortgages for self employed people(self employed for weeks rather than years)

easy to come by? I suspect not!

have 70k downpayment and looking for c120k

approach banks or brokers?? our current fixed rate deal runs out next summer....but ideally we would be looking to move in 3 months time!

Any advice ??

:confused::confused::confused::confused::confused::confused::confused::confused::confused::confused::confused:

Comments

  • beecher
    beecher Posts: 2,497 Forumite
    Approach your present lender and ask about porting your existing mortgage over, and getting additional lending from them. It depends on LTV etc but it would save you paying out an ERC. I'm not sure if they'd do another full check on your income or not - would be a problem if you've only been self employed for weeks.

    After you've approached them and found out your options, I'd contact an independent broker.
  • ah thanks mate

    see thats the prob, whether they would check the old income again!!!

    i like that advice

    CHEERS AND BEERS :beer:
  • beecher
    beecher Posts: 2,497 Forumite
    When I think about it, they would check the income if they were porting. Is selling up and renting an option for you?
  • my OH doesnt wanna rent (wasted money according to him)

    i just dont know what to do!!!

    boohoo
  • beecher
    beecher Posts: 2,497 Forumite
    Have you sold your existing house? Are you upsizing or downsizing? Is the present mortgage easily affordable? Are you earning? What's your credit rating like? I don't think you've given enough information for anyone really to help.

    Renting isn't wasted money if it provides a roof over your head - I suppose the only other alternative is to stay where you are.
  • i agree with u about renting!

    putting house on market in a month

    me not earning, OH is the self employed one

    we are downsizing

    present mortgage is affordable now (interest only) but we want to move as the house doesnt suit us...

    yeah staying put i suppose may be the only option...i suppose for another mortgage a bank would want a few years accounts!!

    :(

    Oh Well
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.7K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.